Asian stocks pulled back from an early rally to close broadly higher Tuesday. Japan ended weaker and South Korea closed flat. But Australia managed to hang on to its advance to finish in positive territory.
Japanese stocks gave up early gains and closed lower, dragged into the red by mobile carrier KDDI Corp on a ratings downgrade. The Nikkei 225 Average fell 0.65 percent, after jumping more than 3 percent and posting a six-week closing high on Monday. But property shares climbed, with Mitsubishi Estate up more than 4 percent after Daiwa Institute of Research hiked its rating to "1" from "3," citing the company's new midterm plan, which it termed "positive".
South Korea's KOSPI finished flat after hitting a five-week high, as Samsung Securities slid on a planned probe by prosecutors as part of an ongoing investigation into Samsung Group, while exporters retreated amid persistent concerns about a U.S. recession. Samsung Electronics, the world's top memory chipmaker, fell 1.72 percent.